Posts From Fintech News Hong Kong

Millions of cryptocurrency investors have been scammed out of massive sums of real money. In 2018, losses from cryptocurrency-related crimes amounted to US$1.7 billion. The criminals use both old-fashioned and new-technology tactics to swindle their marks in schemes based on

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) entered into a Memorandum of Understanding (MoU) to foster collaboration between the two regulatory authorities in promoting financial innovation. Under the agreement, HKMA and BOT agreed to work together

Insurtech investment continued its momentum with 85 deals totaling US$1.42 billion recorded in Q1 2019, marking the third-straight quarter to register more than US$1 billion in funding. Over Q4 2018, the deal count increased by 35%, although total funding decreased

Hong Kong Monetary Authority (HKMA) has announced a grand total of eight virtual banking license recipients, in three separate announcements so far. Despite the rumoured 29 hopefuls vying for the license, it’s likely that HKMA will only be granting licenses

OneDegree, a Hong Kong-based insurance technology start-up under Cyberport Incubation Programme, extends its Series A round to above US$30 million, subject to regulator’s approval. The extended round is led by BitRock Capital and it sees participation from Cyberport Macro Fund,

WeChat Pay, one of China’s most popular e-wallet providers, has just updated its payment policy to ban cryptocurrency transactions. The move was first noticed by founding partner of crypto investment firm Primitive, Dovey Wan in a tweet. Urgh, Wechat just

In 2018 and early 2019, the Japanese fintech market witnessed significant developments. Japan’s Financial Services Agency (FSA) published a report in December 2018 which proposed new regulatory requirements for virtual currency exchange service providers and a new regulatory framework for

Asia is traditionally a region with low insurance penetration, and Hong Kong was no exception to that rule. Between 2012 – 2016, Hong Kong’s insurance penetration changed from 12.4% of the population to a 17.6% of the population—a significant increase

The Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone or the Qianhai Special Economic Zone, is an experimental commercial development in Shenzhen set up to encourage foreign investment in modern industries. It is emerging as one of China’s biggest centers

Hong Kong is expected to see a boost in fintech activity after a relatively disappointing year in 2018 as the region saw a sharp dip in the total value of The post A Snapshot of Fintech in Hong Kong in 2019 appeared first on Fintech Hong Kong.